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      "body": "This appraisal appears draw its principal conclusions from only 2 aspects of each asset:\n\n • what technology does the most obfuscation (maximise privacy)\n • what has the lowest marketcap (maximise upside)\n\nThe problem I have with it is that neither of these are optimally responsible for supporting value in an unbacked asset. In such a context, blockchain transparency supports value far more reliably than blockchain obfuscation and a low marketcap is only significant if the asset is undervalued.\n\nThat would suggest that the ideal monetary asset is one which can decouple the conflict between supporting maximum anonymity and maximum transparency.\n\nThat is Dash. It’s the only one who’s archetypal monetary model is based on a real asset rather than an encrypted payment system and it’s also the reason that it has specifically avoided implementing an encryption based privacy solution.\n\nRemember, encryption is generally a property of the trading environment, not the asset itself. You find it - ten a penny - all over the place outside of the blockchain world. In banks, on eCommerce systems, in messaging systems and in cash tills. It supports privacy by hiding the trade, not by radically altering the actual traded asset itself. That’s because encryption is basically a destructive transformation that mitigates value by creating ambiguity. (Witness the recent worldwide malware attack).\n\nSo I’d say the flaw in this appraisal is that it’s valuing a digital asset using criteria that are more appropriate to a trading platform. That doesn’t mean encrypted blockchains are’nt useful, but if we remind ourselves of the three fundamental tenets of money, they’re useful in the least investible of these (i.e. the last one) since hiding value is far easier & cheaper than creating it and making it transparently fungible ;)\n\n • store of value\n • unit of measure\n • means of exchange",
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    {
      "body": "@@ -1579,16 +1579,17 @@\n X0.png)%0A\n+%0A\n Majority\n",
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    {
      "body": "@@ -1500,20 +1500,16 @@\n ling of \n-the \n holding \n@@ -1517,16 +1517,24 @@\n ommunity\n+ opinion\n %0A!%5BDash \n",
      "title": "",
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    {
      "body": "@@ -527,128 +527,101 @@\n ere \n-not weighted towards those with an interest in seeing the cryprocurrency succeed rather than those who would see it fail\n+applied directly to an asset governance and not weighted in favour of those with most at risk\n .%0A%0AS\n",
      "title": "",
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  "op": [
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    {
      "body": "@@ -270,32 +270,40 @@\n ise \n-HOLDERS, not NON-HOLDERS\n+**holders**, not **non-holders**\n . In\n",
      "title": "",
      "author": "toknormal",
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    {
      "body": "@@ -2287,16 +2287,20 @@\n re near \n+the \n %22Satoshi\n@@ -2306,43 +2306,107 @@\n i'%22 \n-bitcoin holding of 7%25 of the supply\n+level of centralised holding and all of them are well outnumbered when it comes to voting potential\n .%0A%0AT\n",
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  "op": [
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    {
      "body": "@@ -1885,17 +1885,20 @@\n ally, th\n-e\n+ough\n  Dash ma\n@@ -2335,16 +2335,17 @@\n supply.%0A\n+%0A\n The pers\n",
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      "author": "toknormal",
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    {
      "body": "@@ -1874,16 +1874,474 @@\n etely.%0A%0A\n+Finally, the Dash may have its 'whales' like every other asset does, it's in fact one of the better distributed of the cryptos - far better than Bitcoin for example. The founder just divested himself of 80%25 of his holdings and OTC trades for the last 2 years have accounted for the largest known holder seeing a reduction of 300-400 masternodes to around 80. Despite that, none of them were ever anywhere near %22Satoshi'%22 bitcoin holding of 7%25 of the supply.%0A\n The pers\n",
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      "body": "@@ -1354,62 +1354,8 @@\n s:%0A%0A\n-!%5BDash stakeholders%5D(http://i.imgur.com/DBOqwX0.png)%0A%0A\n 1. a\n@@ -1541,16 +1541,68 @@\n mmunity%0A\n+!%5BDash stakeholders%5D(http://i.imgur.com/DBOqwX0.png)\n %0AMajorit\n",
      "title": "",
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      "body": "@@ -347,25 +347,35 @@\n nded. Th\n-is articl\n+e scewed logic abov\n e attemp\n@@ -387,16 +387,25 @@\n  make a \n+slightly \n ludicrou\n",
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      "body": "Is this supposed to be a serious appraisal or a thinly veiled sour-grape from a disenfranchised e-holder ? It’s difficult to tell the difference but I’ll give it the benefit of the doubt ;)\n\nFirst of all, Dash's decentralised governance system was designed to enfranchise HOLDERS, not NON-HOLDERS. In that respect it's working completely as intended. This article attempts to make a ludicrous comparison with democracy which works on a \"1 person 1 vote\" basis that would in fact be suicidal of it were not weighted towards those with an interest in seeing the cryprocurrency succeed rather than those who would see it fail.\n\nSecondly, lets stop for a moment and draw attention to the one significant aspect of governance that this article blatantly ignores: scope.\n\nA classic governance model such as bitcoin's notionally delegates control to three significant stakeholder categories: miners, merchants and developers. Holders only have an indirect influence through markets - i.e. if they don't like  the direction of travel their only recourse is to divest themselves of the asset in markets.\n\nDash adds a fourth stakeholder category to represent holders but even that does not give them 'control' over all aspects of policy - or even the significant ones. It’s influence is significant but its scope is confined to only two aspects:\n\n![Dash stakeholders](http://i.imgur.com/DBOqwX0.png)\n\n1. an executive role in the allocation of the periodic block reward to development proposals from contractors\n\n2. a consultative role in the form of informal polling of the holding community\n\nMajority mining still rules ultimately over protocol. Merchants still decide what to support and developers can write what code they want independently of Dash's governance system. They may even have that protocol accepted by miners in which case they've bypassed it completely.\n\nThe perspective presented in this article therefore represents little more than a troll-like attempt to paste some-kind of faux ethical conflict onto what is actually an extremely successful and growing initiative.",
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